Wall Street barely changed in phase of consolidation, Dow outperforms

Wall Street was barely changed in a mundane day for stocks and bonds on Tuesday with consolidation taking place after new highs in yields and record highs for stocks this week.

The Dow Jones Industrial Average, however, was the star performer as it climbed 44 points, or 0.2%, to 19,002 while the S&P 500 index inched out a 0.7 point gain to 2,199, and the Nasdaq Composite Index rose 11 points, or 0.2%, to 5,379. 

Don't believe the hype, and get real: the Fed will not hike in December and here is why ...

Trump was the catalyst for markets bidding up stocks as yields shot through the roof, relatively speaking, as investor expect fiscal stimulus spending from Trumps presidency to boost inflation and force the hand of the Fed next year to become more active and aggressive in normalising interest rates. This would be met by tax cuts, deregulation and government spending, so the markets have priced in an off-set of associated risks of higher rates, which could be positive for stocks and Wall Street.

Market wrap: little changes, still expecting Fed hike  - Westpac

US dollar recovers after yesterday’s slide